|
Report Date : |
03.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAI COMMODITIES LIMITED |
|
|
|
|
Registered Office : |
65 Delamere Road, Hayes, Middlesex, Ub4
0nn |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.03.2007 |
|
|
|
|
Com. Reg. No.: |
06132176 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
·
Engaged in trading Agro
Based Commodities, such as Raw Cashews Nuts, Cashew Kernels, Dry Ginger,
Annatto seeds, Rice, Cocoa Beans and Robusta Coffee Beans. ·
Subject is an Independent Agents for Non-Core Products such as
Cookies/Biscuits, Candies/Sweets, Stainless Steel Kitchen Sink, Tyres, and
Stainless Steel Utensils. |
|
|
|
|
No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to
part any information from the company management.] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but Correct |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
United Kingdom ECONOMIC OVERVIEW
The UK, a leading trading power
and financial center, is the third largest economy in Europe after Germany and
France. Over the past two decades, the government has greatly reduced public ownership.
Agriculture is intensive, highly mechanized, and efficient by European
standards, producing about 60% of food needs with less than 2% of the labor
force. The UK has large coal, natural gas, and oil resources, but its oil and
natural gas reserves are declining and the UK became a net importer of energy
in 2005. Services, particularly banking, insurance, and business services, are
key drivers of British GDP growth. Manufacturing, meanwhile, has declined in
importance but still accounts for about 10% of economic output. After emerging
from recession in 1992, Britain's economy enjoyed the longest period of
expansion on record during which time growth outpaced most of Western Europe.
In 2008, however, the global financial crisis hit the economy particularly
hard, due to the importance of its financial sector. Falling home prices, high
consumer debt, and the global economic slowdown compounded Britain's economic
problems, pushing the economy into recession in the latter half of 2008 and
prompting the then BROWN (Labour) government to implement a number of measures
to stimulate the economy and stabilize the financial markets; these included
nationalizing parts of the banking system, temporarily cutting taxes,
suspending public sector borrowing rules, and moving forward public spending on
capital projects. Facing burgeoning public deficits and debt levels, in 2010
the CAMERON-led coalition government (between Conservatives and Liberal
Democrats) initiated a five-year austerity program, which aimed to lower London's
budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. In November
2011, Chancellor of the Exchequer George OSBORNE announced additional austerity
measures through 2017 largely due to the euro-zone debt crisis. The CAMERON
government raised the value added tax from 17.5% to 20% in 2011. It has pledged
to reduce the corporation tax rate to 21% by 2014. The Bank of England (BoE)
implemented an asset purchase program of £375 billion (approximately $605
billion) as of December 2013. During times of economic crisis, the BoE
coordinates interest rate moves with the European Central Bank, but Britain
remains outside the European Economic and Monetary Union (EMU). In 2012, weak
consumer spending and subdued business investment weighed on the economy,
however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of
the year because of greater consumer spending and a recovering housing market.
The budget deficit is falling but remains high at nearly 7% and public debt has
continued to increase.
|
Source : CIA |
SAI COMMODITIES LIMITED
Registered Address
65 DELAMERE ROAD
HAYES
MIDDLESEX
UB4 0NN
United Kingdom
Website www.saicommodities.co.uk
Office Address
20 Barclay Road, Croydon CR0 1JN,
United Kingdom
Company Number: 06132176
Status: Active Accounts Filed
Foundation: 01/03/2007
No exact match CCJs are recorded against the company. Sales in the latest trading period increased 25.8% on the previous trading period.
Net Worth increased by 33.2% during the latest trading period. A 75.7% growth in Total Assets occurred during the latest trading period. Pre-tax profits increased by 26.4% compared to the previous trading period. The company saw an increase in their Cash Balance of 74.3% during the latest trading period. The audit report contains no adverse comments.
No recent changes in directorship are recorded. The company is not part of a group. The company was established over 7 years ago.
Legal form
Private limited with Share Capital
Foundation
01/03/2007
Company No.
06132176
Shareholders
|
Name |
Currency |
Number
of shares |
Share type |
Nominal value |
|
DEEPAK
LAL RUPCHANDANI |
GBP |
221,250 |
ORDINARY |
1 |
|
SUJATA
RUPCHANDANI |
GBP |
73,750 |
ORDINARY |
1 |
|
Total Share Capital |
GBP
295,000 |
|||
Management
|
Directors |
||||
|
Name |
Address: |
Date
of birth |
Nationality |
Appointment
date |
|
Mr Deepak Lal Rupchandani |
20
Barclay Road, Croydon CR0 1JN |
07/12/1962 |
Indian |
27/09/2012 |
|
Mr Ishwar
Lal Ashoka |
20
Barclay Road, Croydon CR0 1JN |
01/03/1935 |
British |
01/03/2007 |
Secretary
No Secretary appointed
Other Known
Addresses
20 Barclay Road, Croydon, Surrey CR0 1JN
65 Delamere Road, Hayes, Middlesex UB4 0NN
Business activities
Main activity
·
Engaged in trading agro
based commodities, such as Raw Cashews Nuts, Cashew Kernels, Dry Ginger,
Annatto seeds, Rice, Cocoa Beans and Robusta Coffee Beans.
·
Subject is an Independent Agents for Non-Core Products such as
Cookies/Biscuits, Candies/Sweets, Stainless Steel Kitchen Sink, Tyres, and
Stainless Steel Utensils.
Economic data
Turnover & Employees
|
Date of Accounts |
Turnover |
Employees |
|
31/12/2011 |
GBP 14,335,757 |
Not Stated |
|
31/12/2012 |
GBP 8,239,472 |
Not Stated |
|
31/12/2013 |
GBP 10,365,090 |
Not Stated |
Banks
Bank Name Bank Branch
Sort Code
PUNJAB NATIONAL BANK (INTERNATIONAL) LIMITED 60-95-00
Auditor
Auditor name
THE CORPORATE PRACTICE LIMITED
Events
|
Company history |
|||
|
Date |
Action |
||
|
04/12/2009 |
New Accounts Filed |
||
|
09/03/2010 |
Annual Returns |
||
|
10/05/2011 |
New Accounts Filed |
|
|
|
10/05/2011 |
New Accounts Filed |
|
|
|
18/05/2011 |
Annual Returns |
|
|
|
23/08/2011 |
New Accounts Filed |
|
|
|
23/08/2011 |
New Accounts Filed |
|
|
|
20/03/2012 |
Annual Returns |
|
|
|
14/08/2012 |
New Accounts Filed |
|
|
|
14/08/2012 |
New Accounts Filed |
|
|
|
13/11/2012 |
New Board Member Mr
D.L. Rupchandani appointed |
|
|
|
28/06/2013 |
Annual Returns |
|
|
|
03/10/2013 |
New Accounts Filed |
|
|
|
03/10/2013 |
New Accounts Filed |
|
|
|
12/04/2014 |
Annual Returns |
|
|
|
08/07/2014 |
New Accounts Filed |
|
|
|
08/07/2014 |
New Accounts Filed |
|
|
|
Mortgages |
|
|
Charge
created |
23/04/2008 |
|
Charge
registered |
29/04/2008 |
|
Status |
OUTSTANDING |
|
Entitled
person |
PUNJAB
NATIONAL (INTERNATIONAL) LIMITED |
|
Secured
amount |
US |
|
|
|
|
Mortgage
detail |
THE
COMPANY§INTEREST BEARING DEPOSIT ACCOUNT HELD AT PUNJAB NATIONAL BANK
(INTERNATIONAL) LIMITED AND INCLUDES ANY SUB-ACCOUNT, ANY REDESIGNATION OF
THAT ACCOUNT AND ANY ACCOUNT. |
|
Charge
created |
23/04/2008 |
|
Charge
registered |
29/04/2008 |
|
Status |
OUTSTANDING |
|
Entitled
person |
PUNJAB
NATIONAL BANK (INTERNATIONAL) LIMITED |
|
Secured
amount |
ALL MONIES
DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
|
Mortgage
detail |
ALL RIGHT TITLE
ESTATE AND OTHER INTERESTS OF THE COMPANY IN EACH OF THE PROPERTIES. ALL
PLANT MACHINERY VEHICLES COMPUTERS AND OTHER EQUIPMENT OF THE COMPANY BOTH
PRESENT AND FUTURE AND ALL SPARE PARTS REPLACEMENTS MODIFICATIONS AND
ADDITIONS FOR THE SAME AND THE FULL BENEFIT OF ALL WARRANTIES AND MAINTERNACE
CONTRACTS FOR ANY OF THE SAME. |
|
Charge
created |
27/03/2009 |
|
Charge
registered |
02/04/2009 |
|
Status |
OUTSTANDING |
|
Entitled
person |
PUNJAB
NATIONAL BANK (INTERNATIONAL) LIMITED |
|
Secured
amount |
ALL MONIES
DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
|
Mortgage
detail |
THE L/H
PROPERTY K/A 184 BENSHAM MANOR ROAD THORNTON HEATH SURREY AND GARAGE T/NOSGL41640,
A FIXED CHARGE ALL RENTAL INCOME PRESENT AND FUTURE AND THE PROCEEDS OF ANY
SALE. THE FIXED PLANT MACHINERY AND FIXTURES |
|
Charge
created |
15/02/2010 |
|
Charge
registered |
27/02/2010 |
|
Status |
OUTSTANDING |
|
Entitled
person |
THE ACCESS
BANK UK LIMITED |
|
|
|
|
Mortgage
detail |
CASH
DEPOSITEDON A BANK CONTROLLED DEPOSIT ACCOUNT |
|
Charge
created |
27/04/2010 |
|
Charge
registered |
30/04/2010 |
|
Status |
OUTSTANDING |
|
Entitled
person |
THE ACCESS
BANK UK LIMITED |
|
Secured
amount |
ALL MONIES
DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR
EVIDENCING THE CHARGE |
|
Mortgage
detail |
FIXED AND
FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND
FUTURE, INCLUDING GOODWILL, UNCALLED CAPITAL, PLANT AND MACHINERY,
INTELLECTUAL PROPERTY. |
|
Charge
created |
21/03/2013 |
|
Charge
registered |
28/03/2013 |
|
Status |
OUTSTANDING |
|
Entitled
person |
PUNJAB NATIONAL
BANK (INTERNATIONAL) LIMITED |
|
Secured
amount |
ALL MONIES
DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
|
Mortgage
detail |
20 BARCLAY
ROAD, CROYDON, SURREY, T/NO:SGL649709, ALL RENTAL INCOME PRESENT ORFUTURE, FIXED
PLANT AND MACHINERY, FIXTURES AND ALL THE GOODWILL
OF THE TRADE OR BUSINESS (IF ANY) AND BOOK DEBTS AND ALL OTHER PROPERTY
ASSETS AND RIGHTS SEE IMAGE FOR FULL DETAILS |
Accounts data
converted from US dollars.
Profit & Loss
|
|
31/12/2013 52 GBP Group:
No |
31/12/2012 52 GBP Group:
No |
31/12/2011 52 GBP Group:
No |
31/12/2010 39 GBP Group:
No |
|
Turnover |
10,365,090 |
8,239,472 |
14,335,757 |
10,675,105 |
|
Export |
- |
- |
14,192,399.61 |
10,501,379.42 |
|
Cost of Sales |
10,077,001.81 |
7,996,191.72 |
14,001,011.88 |
10,340,981.84 |
|
Gross Profit |
288,088.55 |
243,280.1 |
334,745.26 |
334,122.96 |
|
Wages And Salaries |
29,795 |
31,711 |
35,651 |
5,864 |
|
Directors Emoluments |
- |
- |
- |
- |
|
Operating Profit |
158,615.54 |
121,484.47 |
137,425.63 |
106,135.71 |
|
Depreciation |
7,163.82 |
5,088.02 |
6,388.05 |
5,847.72 |
|
Audit Fees |
5,574.07 |
4,094.28 |
2,707.35 |
2,684.93 |
|
Interests Payments |
90,215.24 |
77,245.13 |
67,481.52 |
52,260.59 |
|
Pre Tax Profit |
71,071 |
56,219 |
82,392 |
60,277 |
|
Taxation |
-14,391.41 |
-10,891.38 |
-16,573.08 |
-10,475.94 |
|
Profit After Tax |
56,679.53 |
45,327.83 |
65,818.82 |
49,800.57 |
Balance sheets
|
|
31/12/2013 52 GBP Group:
No |
31/12/2012 52 GBP Group:
No |
31/12/2011 52 GBP Group:
No |
31/12/2010 39 GBP Group:
No |
|
Tangible Assets |
609,528 |
155,702 |
173,425 |
159,602 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
|
Total Fixed Assets |
609,528 |
155,702 |
173,425 |
159,602 |
|
Stock |
4,254 |
46,911 |
0 |
23,583 |
|
Trade Debtors |
3,379,472 |
1,849,182 |
1,547,187 |
1,476,738 |
|
Cash |
1,448,982 |
831,119 |
728,509 |
659,987 |
|
Other Debtors |
352,444 |
415,930 |
2,296 |
0 |
|
Miscellaneous
Current Assets |
0 |
0 |
0 |
0 |
|
Total Current Assets |
5,185,152 |
3,143,143 |
2,277,992 |
2,160,308 |
|
Trade Creditors |
1,871,084 |
1,349,559 |
862,765 |
367,975 |
|
Bank Loans and
Overdraft |
2,491,246 |
1,198,083 |
975,627 |
1,219,087 |
|
Other Short Term
Finance |
19,980 |
27,477 |
8,466 |
9,448 |
|
Miscellaneous Current
Liabilities |
569,457 |
377,377 |
273,913 |
452,071 |
|
Total Current Liabilities |
4,951,766 |
2,952,497 |
2,120,770 |
2,048,582 |
|
Bank Loans and
Overdrafts LTL |
2,872,705 |
1,198,083 |
975,627 |
1,227,780 |
|
Other Long Term
Finance |
381,459 |
0 |
0 |
0 |
|
Total Long Term Liabilities |
381,459 |
0 |
0 |
8,693 |
Capital &
Reserves
|
|
31/12/2013 52 GBP Group:
No |
31/12/2012 52 GBP Group:
No |
31/12/2011 52 GBP Group:
No |
31/12/2010 39 GBP Group:
No |
|
Called Up Share
Capital |
295,276 |
59,003 |
64,810 |
64,273 |
|
P and L Account
Reserve |
76,089 |
255,683 |
231,059 |
163,872 |
|
Revaluation Reserve |
90,089 |
31,662 |
34,778 |
34,490 |
|
Sundry Reserves |
0 |
0 |
0 |
0 |
|
Shareholders Funds |
461,455 |
34,6347 |
330,648 |
262,635 |
Other Financials Items
|
|
31/12/2013 52 GBP Group:
No |
31/12/2012 52 GBP Group:
No |
31/12/2011 52 GBP Group:
No |
31/12/2010 39 GBP Group:
No |
|
Net Worth |
461,455 |
346,347 |
330,648 |
262,635 |
|
Working Capital |
233,385 |
190,646 |
157,223 |
111,726 |
|
Total Assets |
5,794,679.76 |
3,298,844.23 |
2,451,417.28 |
2,319,909.52 |
|
Total Liabilities |
5,333,225 |
2,952,497 |
2,120,770 |
2,057,274 |
|
Net Assets |
461,455 |
346,347 |
330,648 |
262,635 |
Cash Flow
|
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
52 |
52 |
52 |
39 |
|
|
GBP |
GBP |
GBP |
GBP |
|
|
Group:
No |
Group:
No |
Group:
No |
Group:
No |
|
Net Cash Flow from
Operations |
0 |
0 |
0 |
0 |
|
Net Cash Flow before
Financing |
0 |
0 |
0 |
0 |
|
Net Cash Flow from Financing |
0 |
0 |
0 |
0 |
|
Increase in Cash |
617,862 |
102,610 |
68,523 |
-5,255 |
Miscellaneous
|
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
52 |
52 |
52 |
39 |
|
|
GBP |
GBP |
GBP |
GBP |
|
|
Group: No |
Group: No |
Group: No |
Group: No |
|
Capital Employed |
842,913 |
346,347 |
330,648 |
271,328 |
Financial Ratios
|
Name |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Pre Tax Profit
Margin |
0.69
% |
0.68
% |
0.57
% |
0.56
% |
|
Current Ration |
1.05 |
1.06 |
1.07 |
1.05 |
|
Sales or Net Working
Capital |
44.41 |
43.22 |
91.18 |
95.55 |
|
Gearing |
622.53
% |
345.92
% |
295.07
% |
467.48
% |
|
Equity |
7.96
% |
10.50
% |
13.49% |
11.32% |
|
Creditor Days |
65.70 |
59.62 |
21.90 |
9.41 |
|
Debtor Days |
118.67 |
81.69 |
39.28 |
37.76 |
|
Liquidity or Acid
test |
1.04 |
1.04 |
1.07 |
1.04 |
|
Return on Capital
Employed |
8.43
% |
16.23
% |
24.91
% |
22.21
% |
|
Return on Total
Assets Employed |
1.22
% |
1.70
% |
3.36
% |
2.59
% |
|
Current Debt Ratio |
10.73
% |
8.52
% |
6.41
% |
7.80
% |
|
Total Debt Ratio |
11.55
% |
8.52
% |
6.41
% |
7.83
% |
|
Stock Turnover Ratio |
0.04
% |
0.56
% |
0.0% |
0.22
% |
|
Return on Net Assets
Employed |
15.40
% |
16.23
% |
24.91
% |
22.95
% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
UK Pound |
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.